The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1887-06-18

ciassed by the importers and brokers
as the king importers of New Orleans.
Remarked a broker: "What West
feldt can't tell you about the crFee
trade isn't worth knowing"
Mr.. Wes.feldt, in response to 'swh
effect the coffee deal has had upon New
Orleans" said: s.Nvt the slightest,
and 1 don't think anyone here has
been hurt by it. There is very little
coffee here at present; on'y 20 600 bags,
and tWO-thirtls of that can be sold
right here to-day at par. l vii! give
10 cents for $4,000 bags cash. Not /,
single bag has been sold here to-day.
Hou can buy coffee cheaper to-day
tuan you could a week ago. l would
not sell coffee short now because | am
afraid that it will go higher. Brazil
to-day is g. cents above New York
Havre at least I cent above New York.
New York is governed by Rio, and
still to-day the price is g. coats lower
in New York thar RAJ, IL the
coffee grows.'
ssFor the past few days." remarked
the writer, "grocers have been charg-
ing 80 cents per pound for coffee that
sold for 20 cents.''
Mr.. Westfelt said: "CofIee should
never go to soc per pound. AT whole
sale the highest price reached has been
23c, and that ought to be retaiied at
from 26c to 27c.'
EXTENSIVE IMPORTERS.
In the Office of T.. p. Cottreaux,
yesterday afternoon, Mr.. Tom Smith,
of the firm of Smith Bros. & Co., ex.
tensive importers and dealers in coffee,
was met. He is by no means of ii
communicative disposition. Being
asked relative to the effect of tho deal
on New Orleans he said: at makes
things here pretty dull. Coffee has
gone up since yesterday and l look
! for it to go higher Tomorrow"
MIR. f. p. COTTREAUX,
who does the largest brokerage bust
ness in the city, and whose cstablish-
ment, N. no Gravier street, is the
headquarters of almost ever, person
largely interested in the coffee trade,
was next spoken to. Mr.. CottreauX
expressed himself as follows:
"The deal has had the effect of de-
pressing prices on spot cotfecs. Our
stock is very light, being only about
2o,00S bags, consequently the loss is
very light. 1t was a prominent move
mcnt on the part of tho bears to DIES.
troy Arnold q Co., the largest bull
brokers, who represent Brazilian syn.
dictate, and the bears have succeeded ~
s'Do you think the bears made
money by this :?''
emo, sir; l believe that the bears
| Ho Poll M T.;
in all both lost about equally in tho
settlement
elias there been any change since
the settlement :'
eyes. Since the settlement The
market has reacted about two ant
one-half cents perpouud This even
ing advices were received that Eraxl
had re-entered the New York mark ct
and that Brazil was buying freely il
New York"
elbow about the losses hereof
"They are of no consequence. a few
cotton factors made money, us they
sold cofIecs and closed out. The gene
raj trade in coffee here only coptine
itself to the actual requirements o
spots, and takes no interest in the fu
ture movements of New York.
"The market seems to be boundin;
so fast that l don't think that the deal
is going to have any effect. The coffee
people don't like to see these rapil
fluctuations, they much preferring ;
steady market, high or low. ln4ui
ries are coming in from all parties, ant
people in the country have coniidcnc'
in the present prices"
The house OF Ell. Johnson & Co. i
one Of the largest coffee houses in Eio
and it is represented in this city b.,
Mr.. Geo. Gordon, of No. 13S Grav;e
city at present. He is in New York
and therefore his representative here
is we'll posted.
MIR. Diitman, who represents AR
Gordon, was conversed with and said
alt has had no effect here as far ~
we, the dealers in spot cnnees in New
Orleans, can see. 1t has had no ciTec
on the price Of coffee here in New
} Orleans. The closing of the New
York market is very strong to-day
higher than last night, which ind!
Gates that coffee viii go up, both il
futures and spots. We haven't sold ;
bag OF coffee here to-day, waiting OF
Il New York to fix prices. New Nori
really governs New Orleans, and New
| York is governed by Ri0.''
MIR. JAMES CLARKE,
coffee dealer, of No. ~ Natchcz stree I
was visited. In his absence Mr.. lIol
loway, Il member of the firm, was in
terVicweu. He did not think that tn,
deal had any effect upon New Orleans